Porsche Takes Blockchain for a Spin

Porsche and XAIN are testing and implementing blockchain technology for various car features. The German vehicle maker said it might also use the technology for autonomous driving.

German premium cars manufacturer Porsche is collaborating with Berlin-based XAIN to test blockchain apps, becoming the first auto company to trial and implement the technology in its vehicles.

Stuttgart-based Porsche announced in a press release that blockchain would be used for locking and unlocking the car through an app, temporary car access authorizations, and new business models. In the future, the technology might be used for other features, for instance, autonomous driving.

Porsche’s financial strategist Oliver Döring said:

“We can use blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle. We translate the innovative technology into direct benefits for the customer.”

According to the auto maker, the process of locking and unlocking a car with the blockchain application is six times as fast as using the current system. Besides, the technology ensures that access authorizations can be enabled remotely and checked by the owner at any time. The distributed ledger technology is known for its high degree of security, transparency, and accuracy.

Porsche also focuses on new business models: it will employ blockchain to process data. The user will have absolute control over the data given the high transparency guaranteed by the technology. All the changes, including deletions, will be saved in the ledger.

Blockchain will also be used to enhance the autonomous driving experience. According to the company, local data might be used to produce regional learning effects, which could then be shared with other cars.

XAIN is a blockchain and artificial intelligence startup that is part of the Enterprise Ethereum Alliance. Last summer, it won the Porsche Innovation Contest, which drew about 100 applicants. Porsche and XAIN developed blockchain test apps for three months. Currently, the startup is also partnering with Volkswagen, Daimler, DHL, Nvidia, and Simple Token, among others.

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